Shanghai jiaotong macroeconomics review materials(国外英文资料).doc

Shanghai jiaotong macroeconomics review materials(国外英文资料) Test open - bring print courseware, textbooks, and calculators Topic: Individual: choose 4 1. The noun explanation: 5 points by 2 = 10 Simple: 10 times 2 is 20 5 divided by 1 is 5 15 minutes by 1 is 15 Case study: The first chapter: Economics is defined Economics is the study of how people make choices, the use of scarce resources to produce all kinds of things at the right time, and the reasonable allocation between the social members and make full use of social science The concept of opportunity cost * the best use of the alternative to make a decision when opportunity cost is made * resources have multiple USES for the opportunity cost * opportunity costs are not actual expenses What is pareto optimality, what is pareto optimality Pareto optimality is a state of resource allocation, which is impossible to make a persons situation better without making anyone worse off What is a pareto optimal improvement Established state of allocation of resources to other welfare level under the condition of not falling, through reallocating resources, make at least one persons welfare level improved, says this resource reconfiguration for pareto improvement; What is normative analysis, and what is empirical analysis * empirical analysis: [objective description] * normative analysis: what should be? The second chapter: Demand and demand * quantity: the amount of goods and services consumers are willing to buy in a given period of time * requirements: a relationship that is outside the price of the commodity Law of demand * requirements rule is the relationship between the price of an item and the quantity demanded. * in the case of other conditions, the higher the price, the less demand; The lower the price, the greater the demand * requirements patterns can be expressed in terms of requirements and requirements Factors that affect the change in demand * the price of the goods themselves * the price of related items * tw